Term PaperCapitalism and Freedom, written by Milton Friedman, seems to focus significantly on the connections between the economics and politics, and the effect that those have in various aspects of society. This relationship was referred to throughout the book, and the topics Friedman discusses ranged between governmental control of money, to foreign policy and trade and the effect that has on our economy. Through the course of the book, Friedman constantly refers to his “classical liberal” view, which focuses on the freedoms and power of the individual in society. Friedman shows his support of this view during the book using the idea of a laissez-faire government. For Freidman, government involvement in issues regarding society should be minimized, and the government should only really use their power to assist society when things are not going well. Friedman believes that government should only be the most basic form of overseer of the nation. The thought of the free market driving the economy strongly prevails within the book. He claims that the government should only be there to reduce the inevitable rises and falls of the economy when it is free market based. This way, the changes in the market will be able to remain less drastic. Friedman refers to the capitalist system as an unstable form of economy, and that government should be more of a support structure, rather than the basis of the economic system. He strongly believes that too much governmental influence would restrict our rights and liberties. This belief was one of his main focuses through the entire book. Friedman states in the introduction “Our minds tell us, and history confirms, that the great threat to freedom is the concentration of power.” (Pg. 2)

Friedman’s second main point was that the free market system promotes innovation and advancement by providing competition. People have motivation when they are working against someone else toward the same goal, unlike the socialist form of economy, which results in a lack of incentive due to the lack of a reward. Capitalism provides opportunities to improve and expand ideas into more effective and more efficient ones; a fantastic example of this is today’s cell phone. Without the capitalist economy, the cell phone would still be the most basic of telecommunication devices to speak with a person in a different location. Instead, however, it has evolved into a tool that can be used to do nearly everything. From looking up the definition of socialism on the internet to having your phone be your personal assistant, even to typing this paper, they have become extreme devices of ingenuity. What is the reason for the expansion of a basic communication gadget into a computer we can fit into our pocket? It is people trying to improve ideas to sell their products to society. The general public would not buy a product if it wasn’t as good as the next one, and the people producing would not make any profit if no one is purchasing their products. Thus, new ideas and innovations are born in order to be successful in a capitalist system. I believe that the inverse is the socialist system, in which labor and innovation are meant for the “betterment of society” instead of for the opportunity to gain recognition and success for our advancements. This dispersion of credit to the entirety of civilization defeats any reason to come up with new ideas and improvements for anything. As we discussed in class, people become more efficient because they work to be better than someone else.

Friedman constantly refers back to the point of government operating at only the most basic level. His view of a perfect government is of one that is seemingly non-existent. Government should focus on making the lives of the individuals of the nation better, instead of taking that responsibility into their own hands to define what “better” really is. Friedman claims that a free market economy creates “unanimity without conformity” (Pg. 23) and...

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Book Review: Capitalism & Freedom
Author: Milton Friedman
Milton Friedman’s Capitalism &amp; Freedom is one of the most important books regarding economics of the 20th century. His thoughts laid the groundwork for the emerging modern conservative movement, which was an evolution of the 19th century beliefs surrounding liberalism. Friedman’s major themes of his most famous work consist of the roles of competitive capitalism, as well as the role that government should play in a society “dedicated to freedom and relying primarily on the market to organize economic activity.” The book touches on a multitude of other economic issues; however, his first two chapters regarding the major themes of the book are most relevant in today’s study of economics. Most of Friedman’s viewpoints I agree with in terms of promoting freedom and its necessity to promoting prosperity and growth. Friedman, however, lacks a certain level of clarity regarding the specificity of his definition of “economic freedom” and the other variants of “freedom.”
Friedman argues that a free market economic policy is by definition part of freedom, or in his words, “…freedom in economic arrangement is itself a component of freedom broadly understood, so economic freedom is an end in...

...﻿华 中 科 技 大 学
HUAZHONG UNIVERSITY OF SCIENCE AND TECHNOLOGY
WUHAN
THE PEOPLE’S REPUBLIC OF CHINA
The linkage between oil prices and currency fluctuation: Currency crises in Russia 2014-2015
TermPaper
Submitted by: Malanina Kseniia (李雅)
ID No. I201421275
Submitted to: Prof. Fang Zhuangzhi方壮志
Abstract
Recently and in the past year the world has been witnessing the rapidly decreasing price of crude oil. In this termpaper will be enlightened the reasons that led oil price to decline as well as the affection of falling bulk commodity prices on the oil-exporting countries currency fluctuations. In view of recent world events, Russia has been on radar for observation of its depreciating currency due to number of factors that has been adding woes in to the Russian economy.
This termpaper concludes that there are positive relationship between oil price changing and fluctuation of currency of oil-exporting countries.
Key words: crude oil price, exchange rate, depreciation of ruble, trade of balance
Table of Contents
Background Introduction 4
Literature Review 6
Discussion 7
Conclusion 13
References 14
Background Introduction
We cannot underemphasize the importance of crude oil in the present-day world, it is the most demanded and used commodity around the globe. Since 1998 the price of oil was increasing due to the...

...days when I don’t have time to get along with my co-workers. Just always work, work and work.
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Employee 6:
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REACTION PAPERS
ECONOMICS 10
Mrs. Cristina Layug
Teacher
Technology and the Economy
Synopsis:
Productivity is one of the most important indications of economic development. It is the measure of output from processes of production, per unit of output. Productivity can also be seen as a means to measure the efficiency of production. This means more results over a shorter period of time. Economic experts agree that improved productivity permanently improves the standard of living in a particular country.
Reaction:
When consumers stop spending revenue streams for corporations dry up. If you're not in the essential industry (food, water, clothing) generally your products are the first to be ignored as consumers reduce spending. This is prevalent by the amount of jobs lost across the globe.
Impact of Over Population
Synopsis:
Large families lessen the capacity of households to save and invest in human capital. This, in turn, limits the economy’s capacity to accumulate capital. A country with a rapidly population needs more investments to keep up with its growing workforce. If investments fail to keep up, productivity will eventually suffer.
Reaction:
Overpopulation has a definite effects in our country’s economy. First of all, when countries are overpopulated, the hardly have enough food to support themselves, never mind the hope of having a surplus to sell. In an attempt to save people...

...TermPaper in Social Study
Article XII :
“National Economy and Patrimony”
Submitted By:
Tamayo, Gene-Eu Mel Francis Wacal, Kit Bobbie Ballod, Dennis Poncian, Bernadette
Submitted To:
Mr. Rufino Domilio Jr.
IV – MODESTY
I. INTRODUCTION
In this Article XII, it refers to a National Economy and Patrimony Sections.
The Concept of National Economy and Patrimony. The national economy refers to the entire structure of economic life in a country. The concept of national patrimony refers to the store of wealth or accumulated reserves of a national economy and also to the natural resources of our country. Productivity is the ability, capacity of effectivenesss for making greater output out of every unit of input employed (ex: per worker, per hectare of land).
The Three-fold goals of the national economy. Equity, one important aid in promoting equity is the control of monopoly and the prevention of unfair competition. Economic growth is conventionally measured by the increase of the Gross National Product (GNP) which is the estimated value of all goods and services produced by the economy in a given year.
The Guidelines in the development of the national economy. Self-reliant economy, Independent economy, Economy effectively controlled by Filipinos.
Classification of lands of the public domain. This provision classifies...

...MANAGEMENT
TERMPAPER
TOPIC:
AN ANALYSIS OF ROSTOW’S THEORY OF GROWTH
BY
FREDERICK BAWA
INDEX NUMBER: 12022095
LECTURER: DR NAPOLEON KURANTIN
JAN 13 Teshie
AN ANALYSIS OF ROSTOW’S THEORY OF GROWTH
ABSTRACT
Geographers often seek to categorize places using a scale of development, frequently dividing nations into the "developed" and "developing," "first world" and "third world," or "core" and "periphery." These labels are used to judge a country’s level of development though the concept itself is variously defined. The evolution of human societies from primitive hunting communities to the complex modern societies of the 21st century has led to several developmental theorists/scholars offering varied explanations as to how this phenomenon occurred. The uneven nature of this growth amongst the countries in the world has added to the debate and generated a lot of explanations. What explains the disparity in development? What accounts for the advancement and development of some countries to the extent that they are exploring other planets whilst the majority of African countries are wallowing in abject poverty and still struggling to acquire the basic essentials of life?
INTRODUCTION
1. One of the key thinkers in twentieth century Development Studies is WW Rostow, an American economic historian and a vigorous...

...CAPITALISM
Key Concepts:
• Incentives are rewards and punishments for behavior
• Entrepreneurship is the process of discovering new ways of combining resources.
• Distribution (or place) is one of the four elements of marketing mix. An organization or set of organizations (go-betweens) involved in the process of making a product or service available for use or consumption by a consumer or business user.
• Investment is the choice by the individual to risk his savings with the hope of gain. Rather than store the good produced, or its money equivalent, the investor chooses to use that good either to create a durable consumer or producer good, or to lend the original saved good to another in exchange for either interest or a share of the profits.
• Income, refers to consumption opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms.
• Mercantilism is an economic theory that holds the prosperity of a nation dependent upon its supply of capital, and that the global volume of trade is "unchangeable.
• Mode of production: How a society produces its existence; includes both means and relations of production.
• Means of production: Characteristic tools and methods (e.g., plow, steam engine, factory system) by which a society produces its goods and services.
• Relations of production: Social...